Securities code: Guangzhou Echom Sci.&Tech.Co.Ltd(002420) securities abbreviation: Yichang technology Announcement No.: 2022010 Guangzhou Echom Sci.&Tech.Co.Ltd(002420)
Announcement on changes in accounting estimates
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete, and are liable for false records, misleading statements or major omissions in the announcement.
Guangzhou Echom Sci.&Tech.Co.Ltd(002420) (hereinafter referred to as “the company”) held the 24th Meeting of the 5th board of directors and the 15th meeting of the 5th board of supervisors on March 14, 2022. The meeting deliberated and adopted the proposal on the change of accounting estimates. The change of accounting estimates of the company is a reasonable change in accordance with the accounting standards for business enterprises newly revised and promulgated by the Ministry of finance, There is no need to submit it to the general meeting of shareholders for deliberation. The details are hereby announced as follows:
1、 Summary of changes in accounting estimates
1. Reason for change:
According to the company’s product cycle, in order to better match the amortization period of molds with the benefit period and provide investors with more reliable and accurate accounting information, the company reviewed the amortization period of molds and adjusted the amortization period of Shangxian molds and automobile molds to reflect the company’s financial situation and operating results more objectively and fairly.
2. Accounting estimates adopted by the company before the change
The company will amortize the business display molds with the unit value excluding tax less than 50000 yuan (including 50000 yuan) in the current period, and amortize the business display molds with the unit value excluding tax more than 50000 yuan within 12 months.
The company amortizes the automobile mould within 36 months.
3. Accounting estimates adopted by the company after change
The company will amortize the business display molds with the unit non tax value of less than 50000 yuan (including 50000 yuan) in the current period, and amortize the business display molds with the unit non tax value of more than 50000 yuan within 24 months.
The company amortizes the automobile mould within 24 months.
4. Change date
This accounting estimate change will be implemented from January 1, 2022.
2、 Impact of this accounting estimate change on the company
According to the relevant provisions of accounting standards for Business Enterprises No. 28 – changes in accounting policies, accounting estimates and error correction, the company adopts the future applicable method for this change in accounting estimates, and there is no need to make retroactive adjustment to the disclosed financial reports, which will not have an impact on the disclosed audited financial statements of the company.
1. Impact on audited net profit and shareholders’ equity of the latest fiscal year
The accounting estimate change of the company adopts the future application method, and this accounting estimate change has no impact on the audited financial statements of the latest accounting year (2021).
2. Impact on current period
According to the preliminary calculation, after the change of accounting estimate, the net profit in 2022 is expected to be reduced by about 5.1965 million yuan, and the shareholder’s equity in 2022 is expected to be reduced by about 5.1965 million yuan, which will not change the nature of the company’s profit and loss in 2022. The final impact will be subject to the audited financial data in 2022.
3、 Review procedure
According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange, the change of the company’s accounting estimate is reviewed by the board of directors and does not need to be submitted to the general meeting of shareholders for review.
1. Opinions of the board of directors of the company
The board of directors of the company believes that the change of accounting estimate is a reasonable change according to the requirements of the Ministry of Finance and complies with relevant regulations. The changed accounting estimate can objectively and fairly reflect the company’s financial status and operating results, will not have a significant impact on the company’s financial statements, and will not damage the interests of the company and all shareholders, especially minority shareholders. Agree to this accounting estimate change.
2. Opinions of the board of supervisors
The board of supervisors believes that the change of accounting estimates is made in accordance with the requirements of relevant documents of the Ministry of Finance and meets the requirements of self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 1 – standardized operation of listed companies on the main board and relevant laws and regulations. This change will not have a significant impact on the company’s financial statements and will not damage the company and all shareholders Especially for the interests of minority shareholders, we agree to the change of accounting estimates of the company.
3. Opinions of independent directors
The independent directors believe that: the company changes the accounting estimates of the company in accordance with the relevant provisions and requirements of the Ministry of finance. The changed accounting estimates comply with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange, can objectively and fairly reflect the financial status and operating results of the company, and are in the interests of the company and all shareholders. The decision-making procedure of this accounting estimate change complies with relevant laws, regulations and the articles of association, and does not harm the interests of the company and minority shareholders. We agree with the company’s accounting estimate change.
4、 Documents for future reference
1. Resolutions of the 24th Meeting of the 5th board of directors;
2. Resolutions of the 15th meeting of the 5th board of supervisors;
3. Independent opinions of the company’s independent directors on matters related to the 24th Meeting of the Fifth Board of directors.
It is hereby announced.
Guangzhou Echom Sci.&Tech.Co.Ltd(002420) board of directors March 14, 2022
